US construction spending likely quickened in June

Powered by a sharp acceleration in home-building activity, the nominal value of new construction put-in-place probably jumped by 1.6% in June, double the percentage rise posted in the previous month. 

"Private residential outlays are expected to have expanded by 2.6% during the reference period, accounting for almost 60% of the anticipated headline gain. For a fourth straight month, business and governmental entities are also expected to have boosted outlays on construction projects", says Societe Generale. 

The nominal construction spending advanced at a heady annualized clip of 17.8% over the April-June span, almost triple Q1's reported pace and marking the strongest performance since the spring of 1998.